Aakash sees 3x growth under BYJU’s with Rs 3,000 crore biz in FY23
- ByStartupStory | April 1, 2023
BYJU’s acquired Aakash Educational Services Limited (AESL) for around USD 950 million, which is approximately INR 7,100 crore, in April 2021. As per the company’s announcement on Friday, education firm Aakash is expecting to register three-fold growth since its acquisition by BYJU’s and close the financial year 2023 with a revenue of INR 3,000 crore.
Aakash, the education firm acquired by BYJU’s in April 2021, is expected to register three-fold revenue growth and generate Rs 3,000 crore by the end of the financial year 2023. The company stated that AESL’s expansion in physical and digital domains will help maintain its position as the leader in test preparation for JEE and NEET coaching in India. Since the acquisition, AESL reported a three-fold increase in both revenue and profits.
“Thanks to our partnership with BYJU’S, we have been able to enhance our digital capabilities and expand our presence in the Indian market. Our classroom programmes are now powered by cutting-edge technology, and with our proven teaching methodology, we have built a strong Indian brand with global recognition,” commented AESL CEO Abhishek Maheshwari. The firm has expanded its footprint with the addition of 115 new centres, taking the total number of centres to 320. AESL is focusing on expanding its presence in tier 2, 3, and 4 cities to tap into untapped demand for test prep in India, according to CEO Abhishek Maheshwari. “Our aim is to be accessible to students across the country,” he added.
Aakash Educational Services Limited (AESL) currently has over 5,700 teachers and more than 4 lakh enrolled students. Following the acquisition by BYJU’s in April 2021, AESL reported a three-fold growth in revenue. “Our aim is to provide quality education to every student in India. With our student-centric approach and expansion plans, we are confident that AESL will continue to lead the way in the education sector,” said Divya Gokulnath, co-founder of BYJU’s. The company has set a goal to reimagine education for students globally by integrating its synergies further.
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